Posted by William Charles on October 7, 2016
Bank Account Bonuses

Published on October 7th, 2016 | by William Charles

2

[PA only] Belco Community Bank $200 In Branch Checking Bonus



Offer at a glance

  • Maximum bonus amount: $200
  • Availability: Must open in branch, all branches are in PA [Branch locator]
  • Direct deposit required: Yes, at least two that total $300
  • Additional requirements: See below
  • Hard/soft pull: Soft
  • ChexSystems: Unknown 
  • Credit card funding: Unknown
  • Monthly fees: None
  • Early account termination fee: Unknown
  • Expiration date: None listed

The Offer

Direct link to offer

  • Open a new Belco checking account in branch (no online option) and receive $200 when you meet the following requirements within 90 days of account opening:
    • Open account with at least $25
    • Establish a regularly recurring direct deposit
      • At least two direct deposits
      • Must aggregate to a minimum of $300
    • Obtain a Belco debit or credit card and make at least 10 purchases (excludes ATM transactions) [Read: How To Meet Minimum Debit & Credit Transaction Requirements]
    • Login to Belco Money Manager (online banking) at least one time

belco-bonus



The Fine Print

  • Offer valid only on new personal checking accounts with a minimum opening deposit of $25.00.
  • Must meet qualifying criteria to open a checking account.
  • Offer not valid for anyone who has been the primary name on a Belco personal checking account during the previous 12 months.
  • One offer per SSN.
  • Offer not valid on business accounts.
  • All requirements must be completed during the 90-day period starting with the opening date of the new checking account (qualifying period).
  • Direct deposit transactions must total a minimum of $300 from a minimum of 2 separate direct deposit transactions.
  • ATM transactions are excluded from the 10 required card purchases; all purchase transactions must be posted and clear during the qualifying period. A
  • t the end of the qualifying period, a monetary incentive of $200 will be deposited to the new checking account if all requirements have been met. This offer cannot be combined with any other offer. New checking account must be open and in good standing at the time of incentive payout or the payout is forfeited. New checking account must remain open for a minimum of six months or the incentive payout may be subject to forfeiture. Incentive is only available once per SSN during any calendar year. Incentive payout is considered taxable income and will be reported to taxing authorities as required by law. Offer subject to change at anytime without prior notice.
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees



Easiest account to keep fee free will be the basic checking account as this has no monthly fees. I wasn’t able to find the fee schedule, so I’m unsure if any early account termination fee is charged or not. Although I suspect it doesn’t really matter for most people due to the no monthly fee.

Our Verdict

This bonus is a little annoying as you need to open in branch, complete two direct deposits and some debit card transactions. I doubt you can fund with a credit card in branch, but because it’s a soft pull if you live relatively close to a branch then this could be a good deal. If you have any experiences, then please share them in the comments below. You can view a list of the bonuses we do recommend here.

Hat tip to Maximizing Money

Useful posts regarding bank bonuses:



2 Responses to [PA only] Belco Community Bank $200 In Branch Checking Bonus

  1. Jason says:

    Opened this account last week in branch. Soft pull.

    Mobile deposits allowed, to include MOs, with 2k daily and 6k mo mobile deposit limit.

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